Ares Capital Co. (NASDAQ:ARCC) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in Ares Capital Co. (NASDAQ:ARCC) by 4.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 885,406 shares of the investment management company’s stock after purchasing an additional 38,559 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.14% of Ares Capital worth $18,540,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Jamison Private Wealth Management Inc. raised its stake in shares of Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after buying an additional 475 shares during the period. Capital Investment Advisors LLC raised its position in Ares Capital by 1.6% during the second quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock worth $681,000 after acquiring an additional 499 shares during the period. JBR Co Financial Management Inc lifted its holdings in Ares Capital by 1.5% during the third quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after purchasing an additional 500 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its position in shares of Ares Capital by 1.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after purchasing an additional 531 shares during the period. Finally, Centaurus Financial Inc. increased its stake in shares of Ares Capital by 3.9% during the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock worth $301,000 after purchasing an additional 542 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ARCC. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. JMP Securities boosted their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Compass Point raised Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

Ares Capital Price Performance

Shares of ARCC stock opened at $21.51 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s 50-day moving average is $21.09 and its two-hundred day moving average is $21.00. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $22.05. The company has a market capitalization of $13.90 billion, a PE ratio of 8.27 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. Analysts predict that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.93%. The ex-dividend date is Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.